FXCM
Visit

74-89% of retail CFD accounts lose money.

Vs.

Binance
Visit

Investing in cryptocurrencies involves risk.

FXCM Vs. Binance - Compare and Choose the Right One

Updated Jan 08 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

Investing in cryptocurrencies involves risk.

Overview

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering.

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

Best For
  • Professional algorithmic traders looking to benefit from their comprehensive API offering 
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
Trust

TTBTrust

7.7

Provided by TheTradingBible.com ®

Learn More

TTBTrust

7.5

Provided by TheTradingBible.com ®

Learn More
The Good
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
The Bad
  • Lack of asset variety in their offering (over 300+ financial instruments)
  • Costly spreads when compared to similar competitors
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

Only to increase withdrawal limits:

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

🏛 Financial Regulators
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)

None, not required at the moment.

📍 Year Founded
1999 (FXCM Group) 2017
💳 Minimum Deposit
€, £, $ - 50 (Varies by payment method) 0
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill

Skrill and Neteller are not available to FXCM EU clients at the moment

  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
💵 Account Base Currencies
4 - EUR GBP, USD, CHF. All supported cryptocurrencies.
🗽 Available to U.S Citizens
No Yes (excluding few states)
❌ Restricted Countries
RU, US, CA, JP, SK and more. None
📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.
📙 Stocks
200+ N/A
📘 Currency Pairs
39 N/A
📗 Commodities
11 N/A
📕 Indices
15 N/A
📔 ETFs
N/A N/A
💸 Cryptocurrencies

6 (Cryptocurrencies CFDs are not available to retail clients residing in the UK)

700+
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:
All of FXCM's assets are CFDs.

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

Trading Experience
📈 Minimum Stock Trade Size
1 share N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
1 unit of any cryptocurrency $10
📉 Minimum FX Trade Size
$1000 (0.01 Lots) N/A
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) N/A
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:20
💪 Professional Leverage
Up to 1:500 (Varies) N/A
✍ Customisable Leverage
No N/A
🎲 Deleveraged Trading
No Yes
🎓 Demo Account
Yes No
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes Yes
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes No
Fees
💰 Inactivity Fee

50 units of the account's base currency yearly after 1 year of inactivity.

No
💰 Deposit Fees
No No
💰 Withdrawal Fees

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

No
💰 Commissions
No

Binance charges a fixed 0.1% trade value fee for spot trades.

Spreads
📈 EUR/USD
From 1.2 Pips (As per our research) N/A
📉 SP500
Dynamic - From 58 Pips (As per our research) N/A
📈 GOLD
Dynamic - From 41 Pips (As per our research) N/A
📉 TSLA (Stock CFD)
Dynamic - From $1.04 (As per our research) N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $51 (As per our research) Dynamic - From $1
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes No
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No

By using TheTradingBible.com's website you agree to the use of cookies.